Self-Storage Property Portfolio Sold for $18.5M
A local, three-property portfolio of self storage units and office space recently sold for more than $18 million. According to a press release, Michael Mele, a senior vice president of investments in Marcus & Millichap’s Tampa office, and Eddie Greenhalgh, a senior associate in Marcus & Millichap’s Birmingham office, brokered the sale for $18.5 million. The sale consisted of 1,782 self storage units as well as more than 30 office suites.
This Week's Chicago Deal Sheet
Sean Delaney and Michael Mele repped both parties in the sale of Barry’s Storage, a 76k SF self-storage facility in Decatur, IL.
Marcus & Millichap Arranges the Sale of a Sterling's Budget Self Storage for $8.9 Million
STERLING, VA, Apr. 11, 2016- Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Budget Self-Storage, a 56,795-square foot self-storage facility located in Sterling, VA, according to Bryn D. Merrey, regional manager of the firm's Washington, D.C. office. Overall, the asset consisted of 527 non-climate controlled units, ranging from 10 to 525 square feet, and was constructed in 1987 of solid concrete and metal framing.
Michael Mele Recognized As Top of Category in Pinnacle Awards
Recognized as tops in their categories were Deron Thomas of Industrial Realty Solutions; Michael Mele of Marcus & Millichap; Nancy Surak, now of Land Advisors Organization; Dean Saunders of Coldwell Banker Commercial Saunders Real Estate; Ryan Sampson of Eshenbaugh Land Co.; Thomas Hernandez of Ciminelli Real Estate Services; Tom Chamblee of Colliers International Tampa Bay; Mark Klein of Klein & Heuchan Inc.; Heidi Tuttle-Beisner of Commercial Asset Partners Realty; Sage Andress of Sunmark Realty; Carol Kinnard of Hold Thyssen Real Estate Services; Jack Cohen of Cohen Commercial Real Estate; and Heather Whitacre of Fidelity National Title. - See more at: http://www.businessobserverfl.com/section/detail/cushman-hits-pinnacle-of-awards/#sthash.MUArJw4v.dpuf
Tampa MSA Self-Storage Portfolio Sells for $47.9 Million
TAMPA, April 7, 2016 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has arranged the sale of a three-property, 2,291-unit self-storage portfolio. The properties are located in Saint Petersburg, Palm Harbor and Tampa. The total sales price for the portfolio is $47,925,000.